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The installed base of off-highway vehicle telematics systems to reach 12.2 million units worldwide by 2026

Berg Insight estimates that the global installed base of active off-highway vehicle telematics systems reached 6.6 million units in 2021.

This includes connected units deployed on various off-highway vehicles across the construction, mining, agriculture and forestry sectors.

The construction sector accounts for the largest share, driven by OEM telematics systems offered by heavy equipment manufacturers. Agriculture and mining moreover each account for a similar number of connected units deployed on machines and vehicles used in agricultural and mining operations respectively. The remainder is represented by the forestry sector including telematics systems fitted to various forestry equipment. Growing at a compound annual growth rate (CAGR) of 13.2 percent, the active installed base of off-highway vehicle telematics systems across all sectors is forecasted to reach 12.2 million units worldwide in 2026.

Rickard Andersson, Principal Analyst, Berg Insight, said:

“The top-10 equipment manufacturers offering telematics together account for 70 percent of the total number of off-highway vehicle telematics systems in use across the construction, mining, agriculture and forestry sectors worldwide.”

Berg Insight ranks Caterpillar and Komatsu as the leading off-highway vehicle telematics providers. “Far from surprising, the leading equipment manufacturers by market share are also by far the top players when it comes to the number of off-highway vehicle telematics subscribers”, said Mr. Andersson.

He adds that this is a natural development in an industry where telematics has increasingly been included as standard with the machine purchase, gradually covering more models and equipment categories.

“Caterpillar was the first to surpass the milestone of 1 million connected assets”, continued Mr. Andersson. Other major manufacturers with estimated installed bases of more than 100,000 units include SANY, Volvo Construction Equipment, Deere & Company, Hitachi Construction Machinery, JCB, Hyundai Heavy Industries and Doosan Bobcat.

“Additional players having estimated installed bases of off-highway vehicle telematics units in the tens of thousands include Liebherr, Terex, CNH Industrial, CLAAS Group, AGCO, JLG Industries and Tadano”, concluded Mr. Andersson.

Download report brochure: The Global Off-Highway Vehicle Telematics Market

The post The installed base of off-highway vehicle telematics systems to reach 12.2 million units worldwide by 2026 appeared first on IoT Business News.

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